Be part of the decentralised neo-bank of the future.
Quick words about Alluo:
At Alluo, our mission is to bring DeFi to everyone and to do that, we are building the first decentralised neo-bank bank.
What does that mean?
We want to enable users to save, spend, borrow and invest with a simple mobile app which is a non-custodial wallet on polygon.
Non-custodial means that the wallet’s private key is with the user, not with Alluo.
We believe this is important in a borderless financial world, where people should have the same access to finance wherever they are and not be bound by the geography of centralised entities.
Today, people do not change email every time they move countries whilst they have to open a new bank account, we believe decentralised finance can enable money to be akin to an email and Alluo’s ambition is to accelerate that vision.
To download our app, feel free to go to alluo.com
Here is quick summary of our roadmap:
The Alluo protocol
Alluo is also a cross-chain yield optimisation and liquidity direction protocol that directs the liquidity coming from the mobile-app users to different protocols such as curve, convex, anchor etc.
To read more about our Tokenomics, please have a read through this article.
To interact with our protocol directly and earn great yield on your assets (starting with USD stablecoins on polygon), please go to https://app.alluo.finance
Note that Alluo is not a bank and funds invested on Alluo are not protected by a government-backed scheme such as FDIC, FSCS or other such funds.
How can you participate?
Our token auction is now live on gnosis auction and you can bid for your tokens here: https://gnosis-auction.eth.limo/#/auction?auctionId=219&chainId=1#topAnchor
The auction will be open up until the 4th of May 22:59 UK Time.
Note that all auction participants will be eligible for the share of the airdrop as described in this article.
How much?
The minimum price per token is set at 0.00008759 ETH per token which is around $0.25 as we write this.
A total of 4,000,000 tokens are up for sale which represents 2% of the maximum supply.
How can I participate?
It is very straightforward, first, connect your wallet here in the top right:
Then pick how much ETH you are willing to spend — in this example 0.1 ETH
And finally your maximum bidding price per token — in this example 0.0002 ETH per ALLUO token
Then click on Place Order
You will then be greeted with this confirmation screen:
Then click on Confirm
You will then see your Metamask (or any other connected wallet) ask for confirmation
After you have confirmed this transaction, you are all set! You can kick back, relax and wait for the auction to complete.
If your bid is higher or equal to the final price, you will be able to redeem your ALLUO tokens once the auction is finished.
If your bid is lower than the final price, you will be able to redeem your ETH back, ready for your next transactions!
As we talked about in our previous article, the nice thing about Gnosis auctions is that you are expressing the maximum price per token you are willing to pay — in the end, all the bids are assembled and the auction is settled at a common price for everyone.
Again, this is important to remember that with a Gnosis auction, everybody gets the token at the same price.
For more on Gnosis auctions, please feel free to read this article by the Gnosis team.
Funds Allocation
Funds raised in the auction will be used as Protocol Owned Liquidity.
The funds will be locked in the protocol’s treasury and controlled by the community through governance.
Initially, we would expect to put 100% of the proceeds in an 80–20 ALLUO-ETH liquidity pool on Balancer to ensure good liquidity for the token and low impermanent loss.
Token Allocation
Today, the tokens allocation is as follows:
- Seed and early investors: 24%, vesting over 12 months (vesting started in December)
- Core contributor team: 21.5% vesting over 2.5 years with a 6 months cliff (vesting starts when people join the protocol full time)
- Airdrop and liquidity incentives: 10%
- Community treasury: 44.5%
You can see our token contract here: https://etherscan.io/token/0x1e5193ccc53f25638aa22a940af899b692e10b09#balances
Note that today, only half of the total max supply of tokens has been minted and less than 10% of that supply is circulating.
Putting this together, that means that at a price of $0.25 per token our circulating market cap is less than $2.5m
Disclaimer
Alluo is not a bank and your capital is at risk.
Investing in tokens is a risky endeavour, proceed with caution!
